Pulmuone exports frozen gimbap to China

SEOUL, September 12 (AJP) — Pulmuone said Thursday that it has become the first Korean company to export frozen gimbap, Korean seaweed rice rolls, to major retail outlets in China. The fresh food company has launched its Tuna Gimbap in Sam's Club, which operates 49 stores in major Chinese cities. Pulmuone aims to export about 620,000 packs annually, including approximately 136,000 packs this month alone. The company sees significant potential in the Chinese market, c

September 12, 2024

LG CNS launches IT service joint venture in Indonesia

SEOUL, September 11 (AJP) – Korea's IT solutions provider LG CNS has officially launched its joint venture with Indonesia's Sinar Mas in Jakarta. The new company, LG Sinar Mas Technology Solutions, aims to leverage the strengths of both parent companies to provide advanced data center services, cloud migration, and digital transformation solutions, LG said. The venture also plans to expand its offerings to include smart city development and financial IT services. Th

September 11, 2024

SK Hynix develops high-performance solid-state drive for data centers

SEOUL, September 11 (AJP) - SK hynix has unveiled its new high-performance solid-state drive (SSD) for data centers, the PEB110 E1.S. This latest offering incorporates PCIe (peripheral component interconnect express) 5th generation technology, doubling performance and improving power efficiency by over 30 percent compared to previous generations. The PEB110 achieves data transfer speeds of 32 gigabytes per second (GTs) and is the first SK hynix data center SSD to feature security pr

September 11, 2024

LG's AI Home Hub, AeroCat steal the spotlight at IFA 2024

SEOUL, September 11 (AJP) - LG Electronics' mobile AI Home Hub, codenamed Q9, has received high praise from international media at IFA 2024 in Berlin. The device, which features LG's AI agent FURON and autonomous navigation capabilities, was named the best product in various categories by prominent tech publications. TechRadar explained it as "the first robot that made me think it had personality and was worth buying," crowning it the best smart home tech at IFA

September 11, 2024

Tmon, WeMakePrice placed under court receivership amid e-commerce payment crisis

SEOUL, September 10 (AJP) - A Seoul court on Tuesday approved placing struggling e-commerce platforms, WeMakePrice and Tmon, under judicial receivership in the wake of a major payment delay crisis. On July 29, both companies applied for the corporate rehabilitation process with the Seoul Bankruptcy Court, citing an inability to recover their financial situation due to a large-scale refund crisis and the loss of business partners. The court accepted the application and will appoin

September 10, 2024

Taihan Cable builds Kuwait's first fiber optic cable plant

SEOUL, September 10 (AJP) — Korea’s leading cable manufacturer, Taihan Cable & Solution, said Tuesday it has completed the construction of the first fiber optic cable production facility in Kuwait as part of its efforts to expand in the Gulf region. The joint venture, named Taihan Kuwait, was established in partnership with Rank General Trading & Contracting Co., a prominent local construction and trading firm. The factory, located in the Mina Abdullah Industry a

September 10, 2024

Musinsa reports 5.8-fold growth in beauty transactions during sales fest

SEOUL, September 10 (AJP) - Musinsa, a leading online fashion platform in South Korea, on Tuesday reported a 5.8-fold year-on-year increase in beauty category transactions during the Musinsa Beauty Festa, held both online and offline from Aug. 19 to Sept. 8. During the three-week period, customers who bought beauty products accounted for 21.8 percent of all Musinsa store purchasers, with 27.5 percent of them being male, the company said. The offline portion of the festival, held

September 10, 2024

Apple's latest iPhone 16 fails to impress despite AI features

SEOUL, September 10 (AJP) - Apple's unveiling of the iPhone 16 series, touted for its artificial intelligence capabilities, received a lukewarm response from the market. The company's stock barely moved, closing just 0.04 percent higher at $220.91, underperforming compared to the broader tech-heavy Nasdaq index. CEO Tim Cook emphasized the iPhone 16 series was “designed from the ground up” for AI. However, key AI functionalities are not fully integrated and will

September 10, 2024

Coupang challenges 162 billion won antitrust fine in Korean court

SEOUL, September 10 (AJP) - Korea's leading e-commerce platform Coupang has filed an administrative lawsuit against the Korea Fair Trade Commission (KFTC), contesting a record fine of about 162 billion won ($120 million) for alleged unfair business practices, market insiders said on Tuesday. The legal action, initiated on Sept. 5 at the Seoul High Court, seeks to overturn both the corrective order and the monetary penalty imposed by the antitrust regulator last month. The KFT

September 10, 2024

PHOTOS: Inside the IFA 2024

SEOUL, September 09 (AJP) - IFA 2024, Europe's largest consumer electronics show, is held from Sept. 6 to 10 in Berlin, Germany. Major electronics companies from around the world, including Samsung Electronics and LG Electronics, participated in the event, showcasing their latest technologies and products. Both companies focused on AI-based smart home technologies, with Samsung presenting the theme "AI for All" and LG featuring "AI Home Reimagined with Affectionate Intelligen

September 9, 2024